Core Viewpoint - Jiangsu Zhongqi Technology Co., Ltd. has completed the initial registration of its 2025 restricted stock incentive plan, which involves the issuance of 12.236 million shares at a price of 3.03 yuan per share to 322 participants [5][12]. Group 1: Decision Procedures and Disclosure - The decision-making process for the incentive plan was approved by the Compensation and Assessment Committee on April 7, 2025, and subsequently disclosed [1]. - The board meeting on April 11, 2025, also approved the plan, with legal opinions provided by Haotian Law Firm [2]. - The plan was publicly announced from April 12 to April 21, 2025, with no objections received during the public notice period [3]. Group 2: Registration Details - The grant date for the restricted stock was May 28, 2025, with a total of 1,223.60 million shares granted [5]. - The stock is sourced from a directed issuance of A-shares to the incentive participants [5]. - The distribution of shares among participants includes 20,000 shares for the Secretary of the Board, accounting for 1.40% of the total shares granted [5]. Group 3: Vesting Schedule - The vesting schedule includes a 12-month lock-up period for 30% of the shares, followed by additional vesting periods at 24 and 36 months for 30% and 40% respectively [6]. - The total lock-up period for the granted shares is structured over three years, with specific conditions for release [6]. Group 4: Performance Assessment - The performance assessment for the incentive plan spans the fiscal years 2025 to 2027, with specific revenue and profit growth targets set for each vesting period [8]. - If the performance targets are not met, the shares will be repurchased by the company at the grant price plus interest [9]. Group 5: Adjustments and Financial Impact - The grant price was adjusted from 3.08 yuan to 3.03 yuan due to a cash dividend distribution [11]. - The total number of shares granted was adjusted from 1,250 million to 1,223.60 million due to voluntary withdrawals by some participants [12]. - The total share capital after the grant will be 476,992,400 shares, with a diluted earnings per share of 0.0246 yuan [13]. Group 6: Fund Utilization - The funds raised from the stock issuance will be used to supplement the company's working capital [14]. Group 7: Control and Governance - The implementation of the incentive plan will not affect the company's control structure or compliance with listing requirements [14].
中旗股份: 关于2025年限制性股票激励计划首次授予登记完成的公告